There has been some rumblings on the web about the stalled 1000M high-rise construction being resuscitated. Looks like that's true (via Chicagoarchitecture.org):
One of the late Helmut Jahn’s last designs may get built after all. Time Equities, JK Equities, and Oak Capitals have announced that the construction of 1000M is going to restart any day now. How is this possible? Money.
The development trio has closed on a $304 million construction loan, which will be used to get things moving again. It was last year that local media were talking about financing problems with this project, but as of today that all seems to have been resolved. Construction is scheduled to be completed in three years, so December 2024, which is adjacent to January, 2025.
This is a major project and not surprising it's been a challenge to get going. We've been posting about this since 2016...so to say it's been in the works for awhile is an understatement. The development finally started to show signs of tangible progress, but then came Covid-19 and brought more uncertainty.
Over the last year there have been stories about pivots to the project and now this seems to be the most tangible piece of news that it's restarting. Good luck to the developers - they clearly need some.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.